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Banking Average Salaries in Germany 2020

How much money does a person working in Banking make in Germany?


Average Monthly Salary
13,400 EUR
( 161,000 EUR yearly)

LOW
7,590
EUR
AVERAGE
13,400
EUR
HIGH
24,800
EUR

A person working in Banking in Germany typically earns around 13,400 EUR per month. Salaries range from 7,590 EUR (lowest average) to 24,800 EUR (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst15,900 EUR
Assistant Bank Branch Manager14,100 EUR
Assistant Bank Manager16,300 EUR
ATM Manager15,000 EUR
ATM Service Technician7,780 EUR
Bank Accounts Analyst10,800 EUR
Bank Accounts Controller11,100 EUR
Bank Accounts Executive13,100 EUR
Bank Accounts Manager13,700 EUR
Bank Auditing Manager14,400 EUR
Bank Branch Manager16,500 EUR
Bank Clerk7,870 EUR
Bank Compliance Specialist11,000 EUR
Bank Manager25,000 EUR
Bank Operational Risk Manager17,500 EUR
Bank Operations Head18,800 EUR
Bank Operations Officer10,700 EUR
Bank Operations Specialist15,200 EUR
Bank Process Manager12,100 EUR
Bank Product Manager 12,100 EUR
Bank Programme Manager15,000 EUR
Bank Project Manager15,100 EUR
Bank Propositions Manager15,900 EUR
Bank Quantitative Analyst12,600 EUR
Bank Regional Manager17,500 EUR
Bank Regional Risk Officer12,000 EUR
Bank Relationship Manager14,100 EUR
Bank Relationship Officer11,100 EUR
Banker10,900 EUR
Banking Business Analyst12,700 EUR
Banking Business Development Officer11,100 EUR
Banking Business Planning Executive15,200 EUR
Banking Product Manager14,900 EUR
Banking Reference Data Manager13,400 EUR
Banking Risk Analyst11,900 EUR
Banking Technical Analyst10,100 EUR
Bankruptcy Coordinator13,300 EUR
Budget Analyst11,900 EUR
Cards Marketing Manager15,400 EUR
Cash Management Manager17,100 EUR
Check Processing Manager15,900 EUR
Commercial Vault Associate11,600 EUR
Corporate Dealer12,900 EUR
Credit Analyst14,700 EUR
Credit and Collections Manager15,400 EUR
Credit Card Fraud Investigator12,900 EUR
Credit Portfolio Manager19,000 EUR
Credit Risk Analyst15,700 EUR
Credit Risk Associate13,100 EUR
Direct Bank Sales Representative11,400 EUR
Financial Bank Planning Consultant14,400 EUR
Financial Banking Analysis Manager16,100 EUR
Financial Banking Assistant10,700 EUR
Financial Banking Systems Manager14,900 EUR
Foreign Exchange Manager15,200 EUR
Fraud Analyst13,100 EUR
Fraud Detection Associate12,300 EUR
Fraud Detection Manager15,900 EUR
Fraud Detection Supervisor13,500 EUR
Internal Bank Audit Manager16,600 EUR
Internal Bank Auditor11,900 EUR
International Banking Manager19,900 EUR
Loan Analyst12,900 EUR
Loan Area Manager13,400 EUR
Loan Audit Team Leader13,700 EUR
Loan Branch Manager14,700 EUR
Loan Business Development Officer12,200 EUR
Loan Clerk9,010 EUR
Loan Collection Manager13,800 EUR
Loan Collector7,290 EUR
Loan Examiner9,960 EUR
Loan Processing Manager12,100 EUR
Loan Processor11,000 EUR
Loan Quality Assurance Auditor12,300 EUR
Loan Quality Assurance Manager13,400 EUR
Loan Quality Assurance Representative11,600 EUR
Loan Review Manager12,900 EUR
Loan Team Leader12,600 EUR
Mortgage Advisor11,800 EUR
Mortgage Collection Manager13,000 EUR
Mortgage Collector9,610 EUR
Mortgage Credit Analyst10,900 EUR
Mortgage Credit Manager12,100 EUR
Mortgage Development Manager14,700 EUR
Mortgage Document Reviewer9,190 EUR
Mortgage Funding Manager15,900 EUR
Mortgage Operations Manager15,800 EUR
Mortgage Payment Processing Clerk8,940 EUR
Mortgage Processing Manager14,200 EUR
Mortgage Processor9,880 EUR
Mortgage Quality Assurance Auditor12,500 EUR
Mortgage Quality Assurance Manager12,900 EUR
Mortgage Servicing Clerk7,590 EUR
Mortgage Servicing Manager13,000 EUR
Mortgage Underwriter8,730 EUR
Online Banking Manager16,300 EUR
Payment Processing Clerk8,630 EUR
Personal Banker12,700 EUR
Personal Banking Advisor 12,200 EUR
Phone Banker10,600 EUR
Private Banker13,500 EUR
Reconciliation and Investigation Specialist11,200 EUR
Teller7,310 EUR
Trade Officer9,240 EUR
Trade Product Manager13,400 EUR
Trader10,500 EUR
Treasury Operations Officer12,100 EUR

Banking Jobs Salary Distribution in Germany

Median and salary distribution monthly Germany Banking
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The median, the maximum, the minimum, and the range

  • Salary Range

    Banking salaries in Germany range from 7,590 EUR per month (minimum average salary) to 24,800 EUR per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 14,500 EUR per month, which means that half (50%) of people working in Banking are earning less than 14,500 EUR while the other half are earning more than 14,500 EUR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 9,940 EUR while 75% of them are earning more than 9,940 EUR. Also from the diagram, 75% of people working in Banking are earning less than 21,200 EUR while 25% are earning more than 21,200 EUR.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Germany costs anywhere from 59,400 Euro(s) to 178,000 Euro(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Banking Salary Comparison By Gender

Salary comparison by gender monthly Germany Banking
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees earn 7% more than their female counterparts.

Female
13,000 EUR
Male+7%
13,900 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Germany for all Careers

Salary comparison by gender monthly Germany
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Banking Average Annual Salary Increment Percentage in Germany

How much are annual salary increments in Germany for Banking professionals? How often do employees get salary raises?

Banking

Banking professionals in Germany are likely to observe a salary increase of approximately 10% every 14 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate Germany Banking
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Germany / All Professions

Annual Salary Increment Rate Germany
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The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Germany is 6%.

Annual Increment Rate By Industry 2019

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Listed above are the average annual increase rates for each industry in Germany for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Banking Bonus and Incentive Rates in Germany

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Germany Banking
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Banking is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

16% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 84% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
84%
No Bonus
16%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Germany
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Where can you get paid more, working for a private company or for the government? Public sector employees in Germany earn 5% more than their private sector counterparts.

Private Sector
11,600 EUR
Public Sector+5%
12,100 EUR
Percentage increase and decrease are relative to the previous value

Banking Salary Forecast and Trend in Germany

How do Banking salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Germany Banking
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Average Salary 2016
11,600 EUR
Average Salary 2017+4%
12,000 EUR
Average Salary 2018+4%
12,500 EUR
Average Salary 2019+4%
12,900 EUR
Percentage increase and decrease are relative to the previous value

Banking salaries in Germany are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 4% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Banking Hourly Average Wage in Germany


77 EUR per hour

The average hourly wage (pay per hour) in Germany is 77 EUR. This means that the average person in Germany earns approximately 77 EUR for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly Germany
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The average salary for Banking is 13% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Berlin15,300 EUR
Bremen13,300 EUR
Dortmund13,000 EUR
Dresden12,500 EUR
Dusseldorf14,100 EUR
Essen13,500 EUR
Frankfurt14,300 EUR
Hamburg15,000 EUR
Hannover12,200 EUR
Koln14,500 EUR
Leipzig12,700 EUR
Munchen14,800 EUR
Nurnberg12,000 EUR
Stuttgart13,700 EUR
4621 - 32

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